GDYN vs. EPAM

Last updated Apr 1, 2026

Compare and contrast key facts about Grid Dynamics Holdings, Inc. (GDYN) and EPAM Systems, Inc. (EPAM).

Performance

GDYN vs. EPAM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grid Dynamics Holdings, Inc. (GDYN) and EPAM Systems, Inc. (EPAM). The values are adjusted to include any dividend payments, if applicable.

GDYN vs. EPAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GDYN Grid Dynamics Holdings, Inc.	-36.88%	-59.40%	66.84%	18.81%	-70.45%	201.35%	16.13%	12.09%	1.89%
EPAM EPAM Systems, Inc.	-33.91%	-12.38%	-21.36%	-9.28%	-50.97%	86.54%	68.91%	82.88%	2.44%

Fundamentals

Market Cap GDYN : $492.72M EPAM : $7.49B
EPS GDYN : $0.11 EPAM : $6.74
PE Ratio GDYN : 50.85 EPAM : 20.08
PS Ratio GDYN : 1.19 EPAM : 1.39
PB Ratio GDYN : 0.91 EPAM : 2.04
Total Revenue (TTM) GDYN : $411.83M EPAM : $5.46B
Gross Profit (TTM) GDYN : $142.35M EPAM : $1.54B
EBITDA (TTM) GDYN : $13.93M EPAM : $664.07M

Returns By Period

In the year-to-date period, GDYN achieves a -36.88% return, which is significantly lower than EPAM's -33.91% return.

GDYN

• 1D: 0.35%
• 1M: -15.56%
• YTD: -36.88%
• 6M: -26.07%
• 1Y: -63.58%
• 3Y*: -20.77%
• 5Y*: -18.55%
• 10Y*: —

EPAM

• 1D: -0.57%
• 1M: -3.97%
• YTD: -33.91%
• 6M: -10.21%
• 1Y: -19.81%
• 3Y*: -23.21%
• 5Y*: -19.48%
• 10Y*: 5.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

GDYN vs. EPAM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GDYN

GDYN Risk / Return Rank: 4
GDYN Sharpe Ratio Rank: 3
GDYN Sortino Ratio Rank: 2
GDYN Omega Ratio Rank: 3
GDYN Calmar Ratio Rank: 3
GDYN Martin Ratio Rank: 9

EPAM

EPAM Risk / Return Rank: 23
EPAM Sharpe Ratio Rank: 23
EPAM Sortino Ratio Rank: 24
EPAM Omega Ratio Rank: 23
EPAM Calmar Ratio Rank: 27
EPAM Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GDYN vs. EPAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grid Dynamics Holdings, Inc. (GDYN) and EPAM Systems, Inc. (EPAM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GDYN	EPAM	Difference
Sharpe ratio Return per unit of total volatility	-1.11	-0.43	-0.68
Sortino ratio Return per unit of downside risk	-2.05	-0.31	-1.73
Omega ratio Gain probability vs. loss probability	0.75	0.96	-0.20
Calmar ratio Return relative to maximum drawdown	-0.99	-0.47	-0.51
Martin ratio Return relative to average drawdown	-1.52	-1.19	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDYN vs. EPAM - Sharpe Ratio Comparison

The current GDYN Sharpe Ratio is -1.11, which is lower than the EPAM Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of GDYN and EPAM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GDYN	EPAM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.11	-0.43	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.30	-0.36	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	0.40	-0.52

Correlation

The correlation between GDYN and EPAM is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GDYN vs. EPAM - Dividend Comparison

Neither GDYN nor EPAM has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

GDYN vs. EPAM - Drawdown Comparison

The maximum GDYN drawdown since its inception was -86.88%, which is greater than EPAM's maximum drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for GDYN and EPAM.

Drawdown Indicators

	GDYN	EPAM	Difference
Max Drawdown Largest peak-to-trough decline	-86.88%	-82.05%	-4.83%
Max Drawdown (1Y) Largest decline over 1 year	-64.68%	-41.82%	-22.86%
Max Drawdown (5Y) Largest decline over 5 years	-86.88%	-82.05%	-4.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-82.05%	—
Current Drawdown Current decline from peak	-86.45%	-81.13%	-5.32%
Average Drawdown Average peak-to-trough decline	-44.09%	-24.93%	-19.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.13%	16.73%	+25.40%

Volatility

GDYN vs. EPAM - Volatility Comparison

Grid Dynamics Holdings, Inc. (GDYN) has a higher volatility of 14.50% compared to EPAM Systems, Inc. (EPAM) at 7.64%. This indicates that GDYN's price experiences larger fluctuations and is considered to be riskier than EPAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDYN	EPAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.50%	7.64%	+6.86%
Volatility (6M) Calculated over the trailing 6-month period	42.77%	35.73%	+7.04%
Volatility (1Y) Calculated over the trailing 1-year period	57.36%	46.59%	+10.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.42%	53.73%	+8.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.46%	45.47%	+10.99%

Financials

GDYN vs. EPAM - Profitability Comparison

The chart below illustrates the profitability comparison between Grid Dynamics Holdings, Inc. and EPAM Systems, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

GDYN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Grid Dynamics Holdings, Inc. reported a gross profit of 36.14M and revenue of 106.15M. Therefore, the gross margin over that period was 34.0%.

EPAM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, EPAM Systems, Inc. reported a gross profit of 423.20M and revenue of 1.41B. Therefore, the gross margin over that period was 30.1%.

GDYN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Grid Dynamics Holdings, Inc. reported an operating income of 506.00K and revenue of 106.15M, resulting in an operating margin of 0.5%.

EPAM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, EPAM Systems, Inc. reported an operating income of 149.25M and revenue of 1.41B, resulting in an operating margin of 10.6%.

GDYN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Grid Dynamics Holdings, Inc. reported a net income of 306.00K and revenue of 106.15M, resulting in a net margin of 0.3%.

EPAM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, EPAM Systems, Inc. reported a net income of 109.35M and revenue of 1.41B, resulting in a net margin of 7.8%.